With the Dow set to hit 14000 Clem Chambers, CEO of private investor's website ADVFN.com, commented that "We will get many meaningful all-time highs over the next three years. Accordingly, the Dow will hit 15000 this year and 16000 by the end of 2014."
"In a November 2010 Forbes article I predicted the Dow would top 14000 in 2012:
http://www.forbes.com/sites/investor/2010/11/16/bold-prediction-dow-will-top-14000-in-2012/
I was wrong, by about a month. As I write this the Dow is 13954, so forgive my premature speculation.
What’s next? The market could of course top out here and make another plateau.
My position is that we won’t get another crash. Fiat money bulls have been making more valueless paper money and living high on it. Whatever the next financial crisis will be, and there will be one, they won’t make a cent from it.
I don’t see that either, because there is about to be a big recovery and its going to run for a long time. Why? Because all that QE can’t just be pulled back – what’s more, all those sovereign debts and all the rebalancing will have to come via growth and inflation.
On a log scale the market looks very interesting. The first half shows you what a big bull market can do to prices and the latter half shows just how stable the market has been for half a generation.
The thing to consider is that a leg up like the initial 1980s to 2000 bull run is not impossible. In fact all it would take to repeat is high inflation. So my prediction is not a number but a direction and the direction is up. We will get many meaningful all-time highs over the next three years.
Accordingly, the Dow will hit 15000 this year and 16000 by the end of 2014.
If inflation gets out of the box however the market will go off the dial very fast and by the time crazy old guys are trying to buy gas with their silver dollars the Dow could have lots of zeros on it."